17106 Pacific AveSpanaway, WA 98387

Property Details for 17106 Pacific Ave

Year built

1957

Construction

WOOD FRAME

Lot size

0.38 AC

Property size (Sq ft)

2,968 SF

Zone code

MUD

Property type

Turn key restaurants

APN

5025003680

APU

5025003680

Description

This exceptional Spanaway, WA property, located at 17106 Pacific Ave S, presents a unique owner-user or redevelopment opportunity. The 3,080 square foot restaurant building, situated on a substantial 49,860 square foot lot, boasts a prime location with 79 feet of frontage on Pacific Ave S. Built in 1957 and extensively renovated in 2021, the restaurant is turn-key and ready for immediate operation. The 2021 renovation included a complete remodel and the installation of a brand-new septic system and drain field—the largest permitted system for the site. All fixtures, furniture, and equipment are included in the sale price of $2,300,000. Ample parking is provided with 56 spaces available. The property consists of three parcels (APN: 5025003760, 5025003680, 5025003691) and offers the flexibility of being sold individually, providing various investment options. This property is zoned for retail and land use and presents a compelling opportunity for a savvy investor or restaurant operator seeking a well-established and updated location in a thriving community. The zip code is 98387, and the property is located in Pierce County, Washington.

• CAP approach

  CAP return

  Valuation

  6%

  $1,180,628

  6.5%

  $1,089,810

  7%

  $1,011,967

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,005,695

  Geo Method

  $1,440,375

• Alternative Use

  Use

  Valuation

  Residential

  $919,296

  Hospitality

  $842,070

  Educational

  $700,592

  Medical

  $724,687

  Retail

  $1,089,810

Location Insight

City

Spanaway

County

Pierce

State

Washington

Latitude

47.101

Longitude

-122.435

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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